Seymour Hersh: Real Russiagate Is The Clinton Involvement Live Stream Past Moment of Clarities VideosbyLee CampJune 8, 20231 minute readNo comments
Spot on as typical of the ‘pre-censored’ Lee we grew to Love.
This is what is needed to reignite And Focus the occupy Wall Street movement with Real Goals, such as:
A Wall Street Sales Tax (securities transfer tax or trading tax) on all financial transactions including derivatives (futures, options, indices, and over the counter derivatives), stocks, bonds, foreign exchange, and commodities, especially program trading, high-frequency trading, and flash trading. (This is a targeted tax on the banks and NOT for the retail investor. Individuals doing less than 1 million dollars in transitions per year are not subject to this tax. For a married couple this is 2 million per year.
Re-institute the Glass-Steagall firewall to separate banks, brokerages, and insurance.
Ban the riskiest categories of financial instruments (e.g. mortgage-backed securities) and establish strong reserve requirements, margin requirements, position limits, and anti-speculation protections.
As a result of a Wall Street Sales Tax we raise the revenue which in turn allows for immediate tax relief to individuals, families, and small business. Remove the estate tax. Take the burden of taxation away from working American families and shift it to financial speculators, banks and corporate behemoths.
NATIONALIZE THE FEDERAL RESERVE.
The First Bank of the United States, constituted in 1791, was described by Alexander Hamilton as “a political machine, of the greatest importance to the state.” By extending credit at low interest rates to projects of economic development – chiefly public infrastructure and domestic manufacturing – a National Bank undercuts the ability of financial speculators and foreign nations to inflate the cost of a nation’s infrastructure and influence its political decisions.
This can be accomplished formally, as with the first and second Banks of the United States, or informally, as with Lincoln’s “Greenback Dollar” or Franklin Roosevelt’s command of the Federal Reserve System. Bring the functions of a National Bank under the control of Congress and the Executive branch, no longer the sole preserve of unelected, predatory bankers.
The capacity for the Nation’s economy to utilize “free money” is not, as modern monetary theorists would have it, unlimited. It is bounded by the capacity of our labor force, technological capabilities and infrastructure needs to put it to use. Inflation is not a mere increase in the supply of money, but an increase relative to the increase in use-value enabled by that money.
Cut federal BORROWING,
And initiate federal LENDING, at 0% or low rates of interest for:
✓Federal and state infrastructure projects such as road, rail, air, water, and energy projects.
✓0% student loans.
✓Low-interest loans for industrial plant and equipment, with Made in America safeguards.